October 17, 2013

BRIDGEPORT, CT – People's United Financial, Inc. (NASDAQ: PBCT) today reported net income of
$58.5 million, or $0.19 per share, for the third quarter of 2013, compared to $62.2 million, or $0.18 per share,
for the third quarter of 2012, and $62.1 million, or $0.20 per share, for the second quarter of 2013.
Operating earnings were $60.8 million, or $0.20 per share, for the third quarter of 2013, compared to $64.4
million, or $0.19 per share, for the third quarter of 2012, and $62.4 million, or $0.20 per share, for the second
quarter of 2013.

The Company's Board of Directors declared a $0.1625 per share quarterly dividend, payable November 15, 2013 to
shareholders of record on November 1, 2013. Based on the closing stock price on October 16, 2013, the
dividend yield on People's United Financial common stock is 4.4 percent.

During the third quarter of 2013 the Company repurchased 2.1 million shares of People's United Financial common
stock at a weighted average price of $14.33 per share and, during the first nine months of 2013, the Company
repurchased 24.5 million shares of common stock at a weighted average price of $13.39 per share. Under the
existing share repurchase authorization, 8.9 million shares of common stock remain available for repurchase.

"Our performance this quarter reflects the continued benefits from strategic investments in people, products and
services, as well as an expanded geographic footprint developed over the past three years," stated Jack Barnes,
President and Chief Executive Officer. "Ongoing progress in loan and deposit growth, both this quarter and
over the past 12 quarters, is a tribute to both our relationship managers and customers. We remain focused on
delivering shareholder value by leveraging opportunities within existing markets, including strengthening our
position in the Boston and New York MSAs."

"On an operating basis, earnings were $61 million, or 20 cents per share, this quarter," stated Kirk W. Walters,
Senior Executive Vice President and Chief Financial Officer. "The net interest margin reflects the impact
of continued strong loan originations, while non-interest income demonstrates the ongoing improvement in most of
our fee-based businesses. Cost control remains an important area of focus. The modest increase in
operating expenses this quarter primarily reflects higher payroll-related costs, professional and outside service
fees, and real estate owned expenses."

Walters concluded, "We certainly are pleased with the sustained improvement in asset quality. Our low loan
charge-off ratio is a reflection of the Company's historically strong underwriting standards, the economic
strength of the geography in which we operate and the resilience of our customers. Of particular note,
acquired non-performing loans have declined $27 million, or 20 percent annualized, and originated non-performing
loans have declined $16 million, or 8 percent annualized, from December 31, 2012."

Net loan charge-offs as a percentage of average total loans on an annualized basis were 0.17 percent in the
third quarter of 2013 compared to 0.19 percent in the second quarter of 2013 and 0.18 percent in the third
quarter of 2012. For the originated loan portfolio, non-performing loans equaled 1.10 percent of loans at
September 30, 2013, compared to 1.18 percent at June 30, 2013 and 1.45 percent at September 30, 2012.
Non-performing assets (excluding acquired non-performing loans) equaled 1.26 percent of originated loans,
REO and repossessed assets at September 30, 2013, compared to 1.33 percent at June 30, 2013 and 1.59 percent at
September 30, 2012.

Operating return on average assets was 0.78 percent for the third quarter of 2013, compared to 0.81 percent for
the second quarter of 2013 and 0.91 percent for the third quarter of 2012. Operating return on average
tangible stockholders' equity was 9.8 percent for the third quarter of 2013, compared to 9.3 percent for the
second quarter of 2013 and 8.6 percent for the third quarter of 2012.

At September 30, 2013, People's United Financial's tier 1 common and total risk-based capital ratios were 11.4
percent and 12.6 percent, respectively, and the tangible equity ratio stood at 8.5 percent. People's United
Bank's tier 1 and total risk-based capital ratios were 11.8 percent and 13.2 percent, respectively, at September
30, 2013.

People's United Financial, a diversified financial services company with $32 billion in assets, provides
commercial and retail banking, as well as wealth management services through a network of 410 branches in
Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. Through its subsidiaries, People's
United Financial provides equipment financing, brokerage and insurance services. Assets managed and
administered, which are not reported as assets of People's United Financial, totaled $15.5 billion at September
30, 2013.

3Q 2013 Financial Highlights

Summary

Net income was $58.5 million, or $0.19 per share.

Operating earnings were $60.8 million, or $0.20 per share.

Net interest income totaled $223.5 million in 3Q13 compared to $220.9 million in 2Q13.

Interest income on acquired loans decreased $4.6 million from 2Q13 to $29.4 million.

Net interest margin decreased 3 basis points from 2Q13 to 3.30%.

The effect of one more calendar day in 3Q13 benefited the margin by 2 basis points.

The effect of new loan volume at lower rates reduced the margin by 6 basis points.

Provision for loan losses totaled $12.1 million.

Net loan charge-offs totaled $9.6 million, of which $6.4 million related to loans with specific reserves
established in prior periods.

Reflects a $6.3 million increase in the originated allowance for loan losses due to loan growth.

Includes a provision for loan losses on acquired loans of $2.6 million, relating almost entirely to a
single credit.

Non-interest income was $84.0 million in 3Q13 compared to $86.1 million in 2Q13.

Bank service charges increased $1.2 million from 2Q13, in part due to the seasonal nature of certain fee
categories.

Operating lease income increased $0.6 million from 2Q13.

Net gains on sales of acquired loans totaled $5.8 million in 2Q13 (none in 3Q13).

Assets under administration and those under full discretionary management, neither of which are reported as
assets of People's United Financial, totaled $10.5 billion and $5.0 billion, respectively, at September 30,
2013.

Non-interest expense totaled $212.5 million in 3Q13 compared to $205.8 million in 2Q13.

Operating non-interest expense was $209.2 million in 3Q13 compared to $205.4 million in 2Q13. Excluding
operating lease expense and amortization of acquisition-related intangible assets, operating non-interest
expense totaled $194.9 million in 3Q13 compared to $191.2 million in 2Q13.

On October 17, 2013, at 5 p.m., Eastern Time, People's United Financial will host a conference call to discuss
this earnings announcement. The call may be heard through www.peoples.com by selecting "Investor Relations"
in the "About Us" section on the home page, and then selecting "Conference Calls" in the "News and Events"
section. Additional materials relating to the call may also be accessed at People's United Bank's web site.
The call will be archived on the web site and available for approximately 90 days.

Certain statements contained in this release are forward-looking in nature. These include all statements about
People's United Financial's plans, objectives, expectations and other statements that are not historical facts,
and usually use words such as "expect," "anticipate," "believe," "should" and similar expressions. Such
statements represent management's current beliefs, based upon information available at the time the statements
are made, with regard to the matters addressed. All forward-looking statements are subject to risks and
uncertainties that could cause People's United Financial's actual results or financial condition to differ
materially from those expressed in or implied by such statements. Factors of particular importance to People’s
United Financial include, but are not limited to: (1) changes in general, national or regional economic
conditions; (2) changes in interest rates; (3) changes in loan default and charge-off rates; (4) changes in
deposit levels; (5) changes in levels of income and expense in non-interest income and expense related
activities; (6) residential mortgage and secondary market activity; (7) changes in accounting and regulatory
guidance applicable to banks; (8) price levels and conditions in the public securities markets generally; (9)
competition and its effect on pricing, spending, third-party relationships and revenues; (10) the successful
integration of acquisitions; and (11) changes in regulation resulting from or relating to financial reform
legislation. People's United Financial does not undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.